What if I die in service?
The following benefits are available:
Lump sum death cover - If you die whilst you are still working for British Airways, your nominated beneficiary receives a Lump sum broadly equal to three times the elements of your pay that British Airways deem to be pensionable plus any AVCs. If you work part-time the Lump sum is three times your part-time equivalent of your pensionable pay.
The Trustees use your notice of wish as a guide when deciding who receives this money so you must keep this up to date. Notice of Wish.
Adult Survivor's pension under Final Salary - The pension is two-thirds of your basic pension calculated using the years, months and days that you have paid for Adult Survivor's pension cover plus any Adult Survivor's pensions that you have transferred in plus half the time remaining between the date of your death and your current Normal retirement age. If you have chosen not to pay for Adult Survivor's pension cover then your spouse or partner will not get a pension. However, even if you have not paid higher contributions for this benefit a legal spouse or civil partner may still be entitled to a minimum amount of pension as required by legislation.
Remember if you work part-time we use your full-time equivalent salary and your part-time service in the Basic pension calculation.
Dependent children under Final Salary - Your children under 16 (or 23 if still in full-time education or seriously incapacitated) can receive allowances on your death. Each child's pension is 1/6 of your pension. Only two allowances are payable. However, the Trustees will spread the payments to more than two children if applicable.
If you die in service a special increase is also applied. Children's pensions are paid even if you have not paid for Adult Survivor's pension cover. If you have paid for Adult Survivor's pension cover but there is no surviving spouse or partner, then the children's pensions will be trebled for the period you have been paying for Adult Survivor's pension cover. Remember if you work part-time we use your full-time equivalent salary and your part-time service in the Basic pension calculation.Under BAMPS, you can purchase spouse or partner benefits with your individual retirement account.
Surviving Dependant's Pension Form
My spouse or partner gets
My children get
I am working part-time